XLY - Starbucks CEO's Dilemma Unfolds With Stock Performance Falling Sales | Benzinga
Just over a year into the job, the chief executive officer of Starbucks Corp. (NASDAQ:SBUX), Laxman Narasimhan, faces a tough situation as shares plummeted following a disappointing quarterly performance.
The company saw a significant drop in shares, declining by as much as 18% after issuing guidance cuts and experiencing its first sales decline since late 2020.
Second-quarter Comparable store sales declined 4% globally, driven by a 6% decline in comparable transactions.
Efforts to revive Starbucks’ fortunes include ramping up service efficiency, offering more discounts, introducing new products like a boba-inspired beverage, and expanding food offerings beyond peak ...